New Delhi [India], September 4 (ANI): Singapore Prime Minister Lawrence Wong said it will continue to support India's skill development initiatives and collaborate on advanced manufacturing projects while addressing a joint press conference at Hyderabad House in the national capital.

The press conference followed delegation-level talks between Prime Minister Narendra Modi and his Singaporean counterpart Lawrence Wong in New Delhi on Thursday, which set the stage for outlining expanded cooperation across multiple sectors.

Notably, establishing a National Centre of Excellence for Skilling in Chennai, with Singaporean institutions providing consultancy services and undertaking turn-key projects.

'Singapore will continue to support India's skill development journey. We are honoured to accept India's invitation to be a global partner for the National Centre of Excellence in Chennai, which will focus on advanced manufacturing. We will also collaborate with India to set up state-level skill centres to meet industry needs in sectors like aviation, maintenance, repair and overhaul, and semiconductors,' Wong said.

The GIFT City in Gujarat has emerged as a significant hub for financial services, bridging India's stock markets with global investors. The NSE International Exchange (NSE IX) in GIFT City now hosts the GIFT Nifty, a futures contract based on the Nifty 50 index, previously known as the SGX Nifty and traded on the Singapore Exchange (SGX).

This development enables increased accessibility through extended trading hours and tax benefits.

The partnership between India and Singapore also includes advanced manufacturing.The centre will focus on developing skills in areas like semiconductor manufacturing, enhancing India's competitiveness in the global market.

'GIFT City in Gujarat has become another new bridge to connect our stock markets. The Semiconductor Ecosystem Partnership Agreement, signed last year, has also given a new direction to research and development. The active participation of Singapore companies in the Semicon India Conference was a big thing in itself. Singapore will help in setting up a National Centre of Excellence for Skilling in Chennai. This centre will prepare skilled manpower in the field of advanced manufacturing,' said Wong.

He further highlighted plans to expand cooperation in manufacturing and industrial development, building on the broader bilateral engagement discussed during the talks.

'We will expand cooperation in manufacturing and industrial development. Singapore companies are keen to develop sustainable industrial parks in India to support India's manufacturing ambitions. At the same time, we will deepen collaboration in semiconductors, not just in skills training but also in R&D, supply chains and logistics and these efforts will generate new growth opportunities for both our countries,' Wong added.

Wong also spoke about enhancing connectivity across multiple domains as part of the growing partnership.

'We will strengthen connectivity across the air, sea and digital domains. This morning, we exchanged an MoU on cooperation in training, research and development in civil aviation. This will support the growth of our aviation sectors, facilitate trade and tourism and create more commercial opportunities,' he said.

On maritime cooperation, Wong highlighted infrastructure development, linking it to India's trade and logistics ambitions. 'On the maritime side, we just launched phase two of PSA's Bharat Mumbai Container Terminal in Navi Mumbai, which will become India's largest standalone container terminal,' he said.

The two leaders also jointly inaugurated the JN Port PSA Mumbai Terminal (BMCT) Phase-II in the presence of officials from both countries.

Several Memorandums of Understanding (MoUs) were also signed between India and Singapore during the event, with both Prime Minister Modi and Singaporean counterpart Lawrence Wong in attendance, reflecting the broad range of bilateral collaboration.

The Singaporean PM arrived in New Delhi on Tuesday for a three-day official visit. (ANI)